Equitable Distribution of Assets Lawyers Beverly Hills & Los Angeles
The division of marital assets is usually a contentious part of a divorce. However, when an individual works with an experienced divorce firm, they will have a knowledgeable advocate on their side to advise them of their property rights. At E&L, LLP, we learn what is important to our clients, so we can advise on when to settle or litigate.
Protecting your property rights during divorce Beverly Hills & Los Angeles
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To Schedule, a Free Case Evaluation With Our Firm, Contact E&L, LLP, at (213) 213-0000
Separating Marital Assets Beverly Hills & Los Angeles
If a couple cannot reach a settlement during a divorce, the court will decide how to divide the marital property. California is an equitable distribution state, however, equitable distribution does not necessarily mean the marital assets will be divided equally between the parties. Instead, the court strives for a distribution that is considered fair and equitable.
Property division is based on several factors, including:
- Length of the marriage
- Age, health, and income of each party
- Child custody arrangements
- Standard of living during the marriage
- Significant non-marital assets
- Economic disparity/incomes of the parties
Separating Non-marital Assets Beverly Hills & Los Angeles
Non-marital or separate property includes property a person brings into the marriage and inheritances or gifts received during the marriage. Marital assets are property and finances which are acquired during the marriage, and they include:
- Personal property (such as vehicles, art, and furniture)
- Real estate (primary residence and other property)
- Bank accounts
- Retirement accounts
- Stock options and portfolios
- Interests in a business or partnership
Marital debts, including mortgages, loans, credit cards, and taxes, must also be divided. E&L, LLP can review your finances to determine which debts are joint and otherwise which are separate.
Entrust Your Case to E&L, LLP
If you are experiencing a divorce case, or have child custody issues, contact E&L, LLP, at (213) 213-0000, for a free case evaluation and consultation.